The restructuring events database contains factsheets with data on large-scale restructuring events reported in the principal national media and company websites in each EU Member State. This database was created in 2002.
Financial Services Financial And Insurance Activities Financial Service Activities, Except Insurance And Pension Funding 64 - Financial service activities, except insurance and pension funding
400 - 550 jobs Number of planned job losses
Announcement Date
27 December 2010
Employment effect (start)
31 January 2011
Foreseen end date
30 June 2011
Description
Nova Ljubljanska Banka (NLB), the largest Slovenian bank, partly owned by the state and partly by the Belgian KBC bank, will cut its employment by 450-600 people out of existing 4,000. The bank has to implement mass redundancy measures because of severe financial troubles which occurred due to economic recession as the outstanding debts of its clients increased. As a result the bank needs additional capital. The owners request a thorough restructuring of the bank to cover the costs of additional capital. Reduction of employment is part of the restructuring programme.
UPDATE:According to newspapers Delo (28-02-2011) and Finance (01-03-2011), the number of planned job cuts in NLB has been revised from 450-600 to 400-550.
Sources
1 March 2011: Finance
28 February 2011: Delo
27 December 2010: Finance
Citation
Eurofound (2010), Nova ljubljanska banka (NLB), Internal restructuring in Slovenia, factsheet number 71379, European Restructuring Monitor. Dublin, https://restructuringeventsprod.azurewebsites.net/restructuring-events/detail/71379.
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